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Tag: new tax regime 2025
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Tax Computation 2025: Does Section 87A Apply If My Income is more then Rs 12 Lakh?
Understanding the Indian Income Tax system can often be confusing, especially when it comes to rebates and deductions. One such rebate is Section 87A, which provides tax relief to resident individuals. Many taxpayers wonder whether this rebate applies when their income is around Rs 12 lakh, but total income exceeds the threshold. This comprehensive guide…
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Deductions Under New Tax Regime (FY 2025-26): Complete List, Rebate, and Employer Benefits Explained
Deductions Available Under the New Tax Regime (FY 2025-26, AY 2026-27) The New Tax Regime under Section 115BAC has become the default tax regime from FY 2023-24 onwards. It offers lower tax rates but removes most exemptions and deductions available under the old regime. Still, many taxpayers are confused about what deductions are allowed in…
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August 2025 Tax Update: ₹12 Lakh Slab Benefit, New Rules on Deductions, and Compliance Changes Explained
Latest Tax Updates in India – 2025: A Detailed Guide for Individuals and Businesses India’s tax landscape has undergone some of its most significant changes in years. With the Union Budget 2025 introducing bold reforms and the new Income Tax Bill 2025 aiming to simplify the law from April 2026, taxpayers — whether salaried individuals,…